Teachers Retirement System of The State of Kentucky Invests $3.71 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Teachers Retirement System of The State of Kentucky acquired a new position in L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) during the third quarter, Holdings Channel.com reports. The firm acquired 17,868 shares of the company’s stock, valued at approximately $3,714,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in L3Harris Technologies by 15.1% during the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock worth $2,975,043,000 after buying an additional 1,875,236 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in L3Harris Technologies by 17.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock worth $2,028,151,000 after buying an additional 1,448,364 shares in the last quarter. Cowa LLC purchased a new stake in L3Harris Technologies during the first quarter worth $26,000. Raymond James & Associates boosted its holdings in L3Harris Technologies by 83.7% during the third quarter. Raymond James & Associates now owns 938,579 shares of the company’s stock worth $195,072,000 after buying an additional 427,649 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in L3Harris Technologies by 374.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 486,138 shares of the company’s stock worth $102,906,000 after buying an additional 383,747 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LHX shares. Susquehanna increased their price target on shares of L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, January 30th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, January 30th. StockNews.com assumed coverage on shares of L3Harris Technologies in a report on Thursday. They set a “buy” rating on the stock. Robert W. Baird downgraded shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $290.00 to $241.00 in a report on Monday, December 19th. Finally, Citigroup assumed coverage on shares of L3Harris Technologies in a report on Thursday, December 8th. They set a “neutral” rating and a $250.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $259.46.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $195.25 on Friday. L3Harris Technologies, Inc. has a 12-month low of $189.73 and a 12-month high of $264.71. The stock has a market cap of $37.09 billion, a P/E ratio of 35.69, a PEG ratio of 6.32 and a beta of 0.71. The company has a 50-day moving average price of $206.37 and a 200 day moving average price of $218.06. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33.

L3Harris Technologies (NYSE:LHX – Get Rating) last released its quarterly earnings data on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the business earned $3.30 earnings per share. L3Harris Technologies’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a dividend of $1.14 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, March 9th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 83.36%.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.